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<br /> <br />= <br /> <br />INCORPORATED UNDER THE LAWS OF THE STATE OF COLORADO <br /> <br />TILTON LATERAL, INC. <br /> <br />October 23, 2006 <br /> <br />RECEIVED <br /> <br />Colorado Water Conservation Board <br />1580 Logan Stn~et, Room 750 <br />Denver, CO 80203 <br /> <br />; ':T 2 6 2006 <br /> <br />Subject: Loan C 150066 <br /> <br />Colorado Water <br />Conservation Board <br /> <br />Attn: Tim F e~han <br /> <br />Dear Tim: <br /> <br />Regarding our efforts to upgrade our lateral, as you are aware, the bids came in too high for the lateral to <br />fund, We worked with NRCS after that to reconfigure the improvements to something more affordable, <br />but after seeing the cost estimates for the reduced project, the members were uncomfortable taking on <br />such a large financial commitment at the time. <br /> <br />The Lateral, at a special general meeting, voted the project down by a narrow margin. That being the <br />case, the Tilton Lateral will not require the loan that CWCB had offered in the summer of 2002. We <br />appreciate the efforts that CWCB provided to help us with this project, and look forward to doing so <br />again, should we decide to pursue completing our system in pipe. <br /> <br />You may release any funds earmarked for the Tilton Lateral. <br /> <br />Sincerely, <br /> <br />Q-o (/}_ ?i->, rr~ a/~~ <br /> <br />Ja 'es Reaves, President, Tilton Lateral, Inc, <br />